Equinor to increase low-carbon investment
State energy firm will step up its investments in renewables and low-carbon solutions from 4pc of overall spending to 50pc in 2030
Norwegian state energy firm Equinor will step up its investments in renewables and low-carbon solutions from 4pc of capex in 2020 to about 50pc in 2030. The company expects to reach an installed renewable capacity of 12-16 GW by 2030. “With the plans we are outlining today, we expect to invest about $50bn gross in renewables and low-carbon solutions towards 2030,” Equinor CEO Anders Opedal, said at the firm’s capital markets day. Equinor expects gross investment in renewables of around $23bn from 2021 to 2026. The firm has also set interim targets to net reduce carbon intensity by 20pc by 2030 and 40pc by 2035 before reaching net-zero emissions by 2050. “With the plans we are outlining
Also in this section
23 October 2024
Next government faces the difficult task of balancing decarbonisation ambitions with energy security realities
21 October 2024
Gulf Energy Information will host the largest women's event in the energy industry on 19–20 November in Houston, Texas
10 October 2024
The Gulf Energy Information Excellence Awards 2024 celebrated the industry's top innovators at a gala in Houston, recognising achievements in categories ranging from digital transformation to sustainability
4 October 2024
Boost for CCUS and blue hydrogen projects as government confirms funding for HyNet and East Coast clusters